Section 6: Interest-bearing debt as at March 31

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Interest-bearing debt

This section contains information on the interest-bearing debt of the government. Interest-bearing debt includes the unmatured debt and pensions, other future benefits and other liabilities.

Some tables in this section present the continuity of accounts, by showing the opening and closing balances, as well as receipts and other credits, and payments and other charges.

The financial statements of the Canada Pension Plan, the Government Annuities Account and the Royal Canadian Mounted Police (Dependants) Pension Fund, together with the Independent Auditor’s Reports thereon, are presented at the end of this section.

Table 6.1
Interest-bearing debt
(in dollars)
  April 1, 2024 Receipts and other credits Payments and other charges March 31, 2025
Unmatured debtLinks to footnote 1 in Table 6.1
Payable in Canadian currency
Marketable bonds, Table 6.2 1,087,685,071,157 275,407,760,234 193,696,133,355 1,169,396,698,036
Treasury bills, Table 6.3 262,983,485,411 746,214,285,757 726,945,548,210 282,252,222,958
Subtotal 1,350,668,556,568 1,021,622,045,991 920,641,681,565 1,451,648,920,994
Payable in foreign currencies
Marketable bonds, Table 6.2 19,088,249,097 10,931,175,434 4,655,104,477 25,364,320,054
Canada bills, Table 6.4 2,158,060,270 16,778,070,552 14,743,628,374 4,192,502,448
Subtotal 21,246,309,367 27,709,245,986 19,398,732,851 29,556,822,502
Total—Market debt 1,371,914,865,935 1,049,331,291,977 940,040,414,416 1,481,205,743,496
Obligation related to capital leases, Table 6.8 2,365,537,038 127,133,715 304,681,480 2,187,989,273
Obligation under public-private partnerships, Table 6.11 2,541,358,747 17,195,476 65,814,053 2,492,740,170
Total—Unmatured debt 1,376,821,761,720 1,049,475,621,168 940,410,909,949 1,485,886,472,939
Pensions, other future benefits and other liabilities
Public sector pensions, Table 6.13 165,353,678,533 33,663,605,356 36,271,073,728 162,746,210,161
Other employee and veteran future benefits, Table 6.26 196,350,015,000 27,115,892,000 9,798,457,000 213,667,450,000
Other liabilities
Canada Pension Plan Accounts, Table 6.27 159,250,527 10,617,303,960 10,311,574,618 464,979,869
Government Annuities Account 59,357,401 4,054,721 9,924,946 53,487,176
Deposit and trust accounts, Table 6.28 2,016,098,184 3,234,939,373 3,545,330,541 1,705,707,016
Other specified purpose accounts, Table 6.31 4,727,934,510 2,800,262,512 2,721,715,700 4,806,481,322
Total 6,962,640,622 16,656,560,566 16,588,545,805 7,030,655,383
Total—Pensions, other future benefits and other liabilities 368,666,334,155 77,436,057,922 62,658,076,533 383,444,315,544
Total 1,745,488,095,875 1,126,911,679,090 1,003,068,986,482 1,869,330,788,483

Table 6.1 notes

Table note 1

This table includes unmatured debt issued by the Government of Canada. Borrowings of agent enterprise Crown corporations which are unconditional obligations of the government, but not included in unmatured debt, were $311,934 million ($319,212 million in 2024) with receipts and other credits of $78,144 million, and payments and other charges of $85,422 million.

Return to table note 1 referrer in Table 6.1

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